Dan Nathan's Select Sector Financial Slct Str SPDR Fd Trade

Dan Nathan spoke on CNBC's Options Action about a possibility that a decline in crude oil could cause a credit crisis and he suggested a bearish trade in Select Sector Financial Slct Str SPDR Fd XLF. Nathan would buy the February 24 put for $0.65 and sell the February 21 put for $0.10. He would pay $0.55 for the spread and the breakeven for this trade would be at $23.45. Maximal profit for this trade would be $2.45. He thinks that a worry about contagion could hurt the market.